I was doing some driving today, and like I often do, I started thinking about our finances. Today, I was contemplating our savings goals. If you aren’t already aware, Girl Ninja and I kind of want to buy a house one day in the future. So to prepare for said house, we have spent the past two years being diligent little savers.
But what if we have a change of heart and decide we don’t want to buy a house anytime soon (meaning in the next five or so years)? This isn’t a rhetorical question. Seriously, what the frick would we do?
Or another way of phrasing the question (and probably a much more realistic hypothetical situation) is this: What do we do if we reach our $100,000 goal, but aren’t ready to buy yet? We’d still have discretionary income coming in, but do we really need $120,000 or $150,000 in the bank? At what point would our savings just become awkwardly excessive?
I mean, I don’t want to be the cat lady that dies with millions in the bank. So if we reach our $100,000 goal before we even want to buy a house, I guess the only solution is to spend more of our money. Maybe we’d take a few big vacations each year. Perhaps we’d buy a new couch. We’d give more money to charity. I’d up our retirement contribution to 30% (yawn). Girl Ninja would overhaul her wardrobe and I could buy myself some expensive gadgets I don’t really need. But even then, we’d eventually run out of things we want. Where does your money go, when you have no where to put it?
I’m extremely grateful we are in a position where we can save the majority of our income, but for the last two years I’ve put my focus and energy on reaching this $100,000 goal. Which in turn means I’ve put absolutely no focus or thought in to what we’d do once we reach that goal. Help.